THURSDAY, NOVEMBER 2, 2017
HOUSE + HOME Lingering effects
BY THE NUMBERS
$51,676,838
total verified storm damage in Orange County
3,001
The Orlando Regional Realtor Association reported sales of single-family homes in September decreased by 20.8% in 2017.
I
ORANGE COUNTY
t’s been nearly two months since Hurricane Irma unleashed its winds and rains on Central Florida, but its impacts were felt beyond physical damage. According to the Orlando Regional Realtor Association, Realtors expected a September sales decline. And compared with September 2016 — down by 20% — and August of this year — down by nearly 30% — sales did plummet. ORRA President Bruce Elliott, of Regal R.E. Professionals LLC, said hurricanes delay closings because of the extenuating circumstances brought on by the storms, including power loss
$225,000
2.2% from August. But despite the hurricane and the drop in sales for September, ORRA representatives said that the overall median price of Orlando-area homes (all types) continued its upward trend, which is 9.8% above the September 2016 median price. DISASTER RELIEF
With Irma now far in the rearview, the focus of some Florida homeowners and the Federal Emergency Management Agency remains on recovery and repair. FEMA issued a Major Disaster Declaration for the majority of Florida counties, including all of Central Florida, Sept. 10, and continues to take applications for assistance through Nov. 24.
median price of Orlando homes sold in September 2017
$205,000
median price of Orlando homes sold in September 2016
74
consecutive months that increases in median price have been recorded
94.8
percent increase in overall median price of Orlando homes since July 2011
2.3
percent increase yearto-date of home sales in Orlando MSA
SEE IRMA’S PAGE 26
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and home damage, the latter of which requires repair and further inspection prior to closing. “Hurricanes also typically cause a decline in inventory as properties are taken off the market for repair, or as owners stall plans to list their homes while they deal with hurricane aftermath,” Elliott said. “It’s no surprise that new listings for the month of September dropped by 31% compared to September of 2016.” Among members of ORRA, sales of single-family homes this past September decreased by 20.8% compared to September 2016, while condo sales decreased 12%. Additionally, the overall inventory of homes available for purchase this September decreased 16.6% when compared to September 2016, and decreased
AWARDS
DANIELLE HENDRIX
Orange County properties with verified storm damage